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If you eliminate the impossible, whatever remains, however improbable, must be the truth.

Among competing hypotheses, the one with the fewest assumptions should be selected. In simpler language, the simplest solution is correct.

The simpler a hypothesis is, the more easily it can be proved or falsified. A complex explanation for a phenomenon involves many factors which can be difficult to test or lead to issues with the repeatability of an experiment. As a consequence, the simplest solution which is consistent with the existing data is preferred.